Customized Education: Finding the UAlbany Advantage on Wall Street - University at Albany

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Customized Education: Finding the UAlbany Advantage on Wall Street

March 31, 2008

Interns ring the closing bell at the New York Stock Exchange

Two UAlbany students were among the interns ringing the closing bell at the New York Stock Exchange on July 6, 2007. They were: Karl Schlegel, second row, center, and next to him on the right, Brian Stephenson (in pink shirt and tie). (Photo courtesy of Karl Schlegel)

With a clang of one of the world's best-known bells, UAlbany senior Karl Schlegel and other interns closed the trading on the floor of the New York Stock Exchange (NYSE). Schlegel, of Goshen, N.Y., landed the summer internship at the NYSE through UAlbany�s new interdisciplinary major in Financial Market Regulation (FMR).

The innovative program prepares students for careers in financial compliance in the private and public sectors, or for graduate or law school. Students take courses with the University's School of Business, the College of Computing and Information, and the Rockefeller College of Public Affairs and Policy.

�What is special about this major or minor is how the professional and academic worlds are collaborating in offering them,� said David McCaffrey of Rockefeller College, the program�s academic adviser. UAlbany alumni John Malitzis, �89, executive vice president of Market Surveillance at the NYSE, and Gerard Citera, �77, of Davis Polk & Wardwell, initially conceived of the program. UAlbany, Albany Law School, and a group of practicing professionals then brought the idea to fruition.

Malitzis said, �This new major and minor were needed because there�s a growing opportunity for compliance personnel in the securities industry. As the industry becomes more sophisticated, it�s important that our ranks be filled with savvy young talent that is trained in multiple disciplines and can hit the ground running.�

Citera added, �This program is a triple win. It gives our students the experience and skills they need to have an edge in the competition for jobs; it provides the securities industry with well trained candidates for compliance and regulatory positions; and it benefits the University by enhancing its recognition and reputation on Wall Street.�

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